Monrovia – Commerce and Industry Minister-designate Magdalene Dagoseh has vowed to enforce strict price control measures and stabilize Liberia’s markets if confirmed by the Senate, emphasizing her commitment to protecting consumers and combating economic volatility.
She made the commitment when she appeared before the Senate Committee on Commerce and Industry on Friday, chaired by Bomi County Senator Alex Tyler. According to her, she would work to address economic challenges, including inflation and market volatility.
Madam Dagoseh stated that her administration would take proactive measures to monitor and regulate the prices of essential commodities. “We will ensure the enforcement of price stabilization measures and protect consumers from price gouging,” she said. She added that her ministry would collaborate with international partners and local suppliers to secure stable supply chains and prevent shortages, particularly in critical goods like rice, fuel, and building materials.
She said there would be rigid enforcement of anti-profiteering laws as a cornerstone of her policy agenda. According to her, it is important to protect consumers from unfair pricing practices and ensure affordability and market fairness.
“Basic goods are essential for the livelihoods of Liberians, and under my leadership, we will strengthen oversight to ensure that businesses adhere to fair pricing practices,” she told the Senate Committee.
To maintain economic stability, Madam Dagoseh proposed regular market surveys and data analysis to inform policy adjustments. She stressed that consistent monitoring of economic trends would enable the ministry to safeguard against inflation and respond effectively to market dynamics.
The Commerce Minister-designate also pledged to boost competition among importers to improve prices and quality. She outlined plans to create policies encouraging trade diversity and reducing dependency on single-source imports. Supporting local producers to meet export standards and access international markets would also be a priority, she said.
“We must empower our local producers to compete on the global stage. By establishing trade agreements and opening up opportunities, we can position Liberian products in foreign markets and strengthen our economy,” Dagoseh affirmed.
The Senate Committee is expected to deliberate on her confirmation in the coming days. If confirmed and appointed by President Joseph Boakai, Dagoseh will take over a ministry critical to Liberia’s economic development amidst ongoing challenges in global trade and local market dynamics. She would replace Amin Modad, who resigned following controversies surrounding the acquisition of a reported US$96,000 vehicle.
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